Top 5 Best Full-Service Brokers in India 2017

There is no shortage of full-service brokers in India. However, not every broker is created equally. While the majority of them offer similar services, the quality of service varies significantly. No matter if you are new to the stock market or are a seasoned trader or investor looking for better services, we have lined up 5 of the best full-service brokers for you.

What is the Difference Between discount brokers vs full service brokers?

Generally as a beginner you might need some tips to trade on stock market or commodity. In such a case a full service broker may provide you a demat account with valuable stock tips, regular trading advise free of cost. They will also charge you sometime via other method. But in case of discount brokers, the concept of very simple. You are going to use their platform and software only to trade in share market. There will be no additional service or advice, that’s why they are able to offer a cheapest brokerage fee also.

So, as a beginner it is always recommended to start with such a full service broker where you will get some free consultation or free advice or trading tips. Even if that may cost you little extra compared to discount brokers.

List of Best Full-Service Brokers in India 2017

5. ICICI Direct

ICICI Direct is one of the largest and most popular full-service brokers in India. The brokerage charged by ICICI Direct can range between 0.55% and 0.20% depending on the turnover. It has an easy to use online interface and also has an excellent mobile trading app. One of the most important benefits of ICICI Direct is the seamless integration of the trading account with the savings account of ICICI Bank which makes deposits and withdrawal a breeze.

4. HDFC Security

HDFC Security too has an excellent network all over the country and offers a number of benefits to its clients. With an HDFC Security account, you can trade in the equity market, commodity market and even in the currency market. Moreover, they also offer a host of additional services, like portfolio management, mutual fund investments and research desk. Just like ICICI Direct, your HDFC Security account can be integrated with your HDFC Bank account.

3. Motilal Oswal

Motilal Oswal is one of the oldest and most reputed full-service brokers in India. They offer a host of financial services to the customers and are very popular for the advisory service they provide. Apart from the online trading platform, they also offer free trading software and also have a handy mobile app for on-the-go trading. They currently have more than 8 lakh customers in India, making it one of the largest brokers in the country.

2. Sharekhan

Sharekhan was founded in the year 2000 and since then has been one of the best full-service brokers in the country. It has more than 1,900 branches in 550+ cities in India and offers a host of services, like asset management, free trading tips, webinars, regular workshops, and a lot more. However, last year, BNP Paribas purchased Sharekhan for Rs. 2,200 crores. But according to experts, the buyout should not result in any major changes for the Sharekhan clients.

1. Angel Broking

Founded in the year 1987, Angel Broking is a renowned full-service broker which currently has more than 10 lakh clients. They have more than 8,000 branches in 900+ cities in India to offer best of support to its clients. Angel Broking allows its clients to trade from a computer, mobile phone, tablet, or through the phone. The broker is also very popular for the offers and discounts that it regularly offers. For instance, it has current waived off the fee for opening a new trading account with them and is also offering 20% discount on online brokerage.

These are 5 of the best full-service brokers in India. When opening a trading and demat account, make sure that you thoroughly check the brokerage charged by the broker and if possible try to negotiate it. If the broker offers multiple brokerage plans, select one that best suits your trading style.


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